The popular marketplace website Amazon.com announced today that they will be getting into the movie business. Amazon has launched Amazon Studios, a user-run online development and production organization that was built around monthly contests and community feedback. The end result of Amazon Studios, if all goes as planned, will be “feature films derived from the best user submissions that Amazon Studios produces for theatrical release.”

So, aspiring filmmakers should book it to Amazon Studios and get acquainted with its features.

Amazon Studios is launching under a first look deal with Warner Bros., which means if the response to a project is enthusiastic enough, the studio might make the movie – or, they could pass on it and another studio could buy it from Amazon. Additionally, Amazon will offer a total of $2.7 million in awards to the top submissions received by December 31, 2011. Starting immediately, writers can add scripts and filmmakers can upload their test movies to the site. Test movies must be full-length (over 70 minutes), but budget is not a concern, as the films don’t have to be “full budget)” – that is, don’t worry about not having top-of-the-line special effects or CGI.

Even further, every month starting in January, Amazon will designate two scripts and one test film as the best of the month – based on community feedback. The screenplays will be awarded $20,000 each and the film winner will receive $100,000. At the end of next year, one screenplay and one feature film will be chosen as the annual winners. At that time, the best script will score $100,000 and the best feature film a $1 million prize.

The system is designed to discover new talent and run potential material through a sort of “public test screening” which will also provide Amazon with “a new profit center.”